OLD National Bancorp IN Has $7.48 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)

OLD National Bancorp IN reduced its holdings in Best Buy Co., Inc. (NYSE:BBY) by 14.2% during the 4th quarter, Holdings Channel reports. The fund owned 87,189 shares of the technology retailer’s stock after selling 14,374 shares during the quarter. OLD National Bancorp IN’s holdings in Best Buy were worth $7,481,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BBY. Sei Investments Co. lifted its holdings in Best Buy by 2.2% during the 2nd quarter. Sei Investments Co. now owns 37,917 shares of the technology retailer’s stock worth $3,196,000 after buying an additional 818 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Best Buy by 67.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 7,120 shares of the technology retailer’s stock worth $600,000 after buying an additional 2,865 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Best Buy by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 145,555 shares of the technology retailer’s stock worth $12,269,000 after buying an additional 5,197 shares in the last quarter. Creative Planning lifted its holdings in Best Buy by 5.8% during the 2nd quarter. Creative Planning now owns 67,938 shares of the technology retailer’s stock worth $5,727,000 after buying an additional 3,718 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Best Buy by 11.9% during the 2nd quarter. NewEdge Advisors LLC now owns 38,911 shares of the technology retailer’s stock valued at $3,280,000 after acquiring an additional 4,142 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at $8,052,442.20. This represents a 42.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.59% of the company’s stock.

Best Buy Price Performance

Shares of NYSE BBY opened at $85.08 on Thursday. The firm has a market cap of $18.19 billion, a PE ratio of 14.54, a PEG ratio of 2.11 and a beta of 1.43. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The company has a fifty day moving average price of $86.41 and a 200 day moving average price of $90.19.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. Best Buy’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. Research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.42%. Best Buy’s dividend payout ratio is 64.27%.

Wall Street Analyst Weigh In

BBY has been the subject of several recent research reports. StockNews.com cut shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Morgan Stanley dropped their target price on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Citigroup dropped their target price on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. UBS Group dropped their target price on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company dropped their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $101.72.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.